National Academy of Sciences (NAS) manages an endowment fund based in Washington, District of Columbia. The endowment fund supports students, faculty, and other facilities of the academy. The firm primarily invests in buyouts, direct investments in distressed debt, international private equity, and venture capital funds. The academy is governed by a 17-member Council, which includes President, Vice President, Home Secretary, Foreign Secretary, Treasurer, and 12 Councilors elected from among the Academy membership.National Academy of Sciences Endowment's investment portfolio is valued at $554 million, with investments in private equity, real estate, hedge funds, natural resources, publicly-traded equities, fixed income securities, and cash.